Paper presenter names are listed in bold.
FRIDAY
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| 8:30 – 9:30am | Breakfast |
| 9:30am – 12:00pm | Session 1: Bank Funding and Lending |
| Bank Depositor Composition and the Supply of Credit Kristian Blickle (Federal Reserve Bank of New York), Cecilia Parlatore (NYU), Anthony Saunders (NYU) Discussant: Jose Luis Peydro (Luiss) |
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| On the Tradeoffs between Interest Rates and Haircuts at Lending Facilities Anil Kashyap (Chicago), Antonis Kotidis (Federal Reserve Board), Alexandros Vardoulakis (Federal Reserve Board) Discussant: Huberto Ennis (Federal Reserve Bank of Richmond) |
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| Bank to Non-Bank Lending and the Reallocation of Credit Jane Li (Columbia), Yiming Ma (Columbia), Caterina Mendicino (European Central Bank), Dominik Supera (Columbia) Discussant: Quentin Vandeweyer (London Business School) |
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| 12:00 – 1:00pm | Lunch |
| 1:00 – 2:40pm | Session 2: Allocational Roles of Prices |
| Liquid Staking Alfred Lehar (Calgary), Christine Parlour (Berkeley), Kathy Yuan (LSE) Discussant: Ariel Zetlin-Jones (Carnegie Mellon) |
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| The Inefficient Markets Hypothesis: A Theory of Casino Capitalism Christian Hellwig (Toulouse) Discussant: Pete Kyle (Maryland) |
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| 2:40 – 3:00pm | Break |
| 3:00 – 4:40pm | Session 3: Bank Fragility |
| Too Big to Fail, Too Small to Survive Redouane Elkamhi (Toronto), Yilin (David) Yang (Minnesota) Discussant: Thomas Eisenbach (Federal Reserve Bank of New York) |
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| Bank Runs With and Without Bank Failure Sergio Correia (Federal Reserve Bank of Richmond), Stephan Luck (Federal Reserve Bank of New York), Emil Verner (MIT) Discussant: Enrico Perotti (Amsterdam) |
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| 5:00 – 6:00pm | Reception |
| 6:00 – 8:00pm | Dinner – Keynote Speaker: Monika Piazzesi (Stanford) |
SATURDAY
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| 8:00 – 9:00am | Breakfast |
| 9:00 – 10:40am | Session 4: Interconnections in Financial Markets |
| Multimarket Contact and the Cost of Trading Corporate Bonds Marco Grotteria (London Business School), Andreas Rapp (Federal Reserve Board), Ruslan Sverchkov (Warwick), Ram Yamarthy (Federal Reserve Board) Discussant: Dan Li (Federal Reserve Board) |
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| Buying from the Family: Private Equity-Owned Insurers and Their Affiliated Investments Amy Huber (Wharton), Stefan Huber (Wharton), Bella Shan (Wharton), Christina Zhu (Wharton) Discussant: Ishita Sen (Harvard) |
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| 10:40 – 11:00am | Break |
| 11:00am – 12:40pm | Session 5: Financial Technology, Law, and Regulation |
| The Optimal Use of AI in Financial Regulation Chris Clayton (Yale), Antonio Coppola (Chicago) Discussant: Harald Uhlig (Chicago) |
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| Is Criminal Crypto a Sideshow? Illicit Activities across Three Major Blockchains John Griffin (Texas), Zirui Wang (Texas), J. A. Artero Calvo (Integra FEC) Discussant: Huan Tang (Wharton) |
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| 12:40 – 1:30pm | Lunch |
| 1:30 – 4:00pm | Session 6: Liquidity and Fragility in Investment Funds |
| Who Stays, Who Switches: Tax Frictions and the Shift from Mutual Funds Jessica Goldenring (Colorado) Discussant: Chester Spatt (Carnegie Mellon) |
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| Geoeconomic Shocks and Mutual Fund Runs Si Cheng (Syracuse), Allaudeen Hameed (NUS), Hao Jiang (Michigan State) Discussant: Stijn Claessens (Yale) |
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| Democratizing Illiquid Assets: Liquidity Transformation and Performance in Interval Funds Stefano Pegoraro (Notre Dame), Sophie Shive (Notre Dame), Rafael Zambrana (Notre Dame) Discussant: Jonathan Berk (Stanford) |
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| 4:00pm | Adjourn |
Organizing Committee
Vincent Glode (Wharton)
Itay Goldstein (Wharton)
Guillermo Ordonez (Department of Economics)
Yao Zeng (Wharton)